Capstone Asset Management Co. Cuts Position in United Bankshares, Inc. (NASDAQ:UBSI)

Capstone Asset Management Co. reduced its position in United Bankshares, Inc. (NASDAQ:UBSI) by 37.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,536 shares of the financial services provider’s stock after selling 5,816 shares during the period. Capstone Asset Management Co.’s holdings in United Bankshares were worth $374,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. FMR LLC boosted its position in shares of United Bankshares by 3.0% in the fourth quarter. FMR LLC now owns 6,136 shares of the financial services provider’s stock worth $284,000 after buying an additional 181 shares during the period. City Holding Co. boosted its position in shares of United Bankshares by 0.8% in the first quarter. City Holding Co. now owns 24,191 shares of the financial services provider’s stock worth $1,022,000 after buying an additional 200 shares during the period. State of Alaska Department of Revenue boosted its position in shares of United Bankshares by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 8,980 shares of the financial services provider’s stock worth $379,000 after buying an additional 220 shares during the period. LS Investment Advisors LLC boosted its position in shares of United Bankshares by 9.7% in the first quarter. LS Investment Advisors LLC now owns 2,766 shares of the financial services provider’s stock worth $117,000 after buying an additional 244 shares during the period. Finally, Sigma Planning Corp boosted its position in shares of United Bankshares by 3.5% in the first quarter. Sigma Planning Corp now owns 9,130 shares of the financial services provider’s stock worth $386,000 after buying an additional 307 shares during the period. 52.25% of the stock is currently owned by institutional investors and hedge funds.

United Bankshares, Inc. (NASDAQ:UBSI) opened at 32.75 on Friday. The stock has a market capitalization of $3.44 billion, a PE ratio of 17.52 and a beta of 1.05. United Bankshares, Inc. has a 12-month low of $31.71 and a 12-month high of $49.35. The stock’s 50 day moving average is $35.97 and its 200 day moving average is $39.99.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.14. The business had revenue of $176.75 million during the quarter, compared to analyst estimates of $164.09 million. United Bankshares had a net margin of 25.20% and a return on equity of 6.42%. During the same period last year, the company earned $0.44 earnings per share. Equities analysts anticipate that United Bankshares, Inc. will post $1.92 EPS for the current fiscal year.

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A number of research analysts recently issued reports on UBSI shares. Zacks Investment Research raised shares of United Bankshares from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Wednesday, June 28th. BidaskClub raised shares of United Bankshares from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Finally, Boenning Scattergood raised shares of United Bankshares from an “underperform” rating to a “neutral” rating in a report on Thursday, May 18th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The company has an average rating of “Hold” and a consensus price target of $42.63.

In other news, Chairman Richard M. Sr Adams, Sr. acquired 7,405 shares of United Bankshares stock in a transaction on Tuesday, August 15th. The stock was bought at an average price of $33.85 per share, for a total transaction of $250,659.25. Following the completion of the purchase, the chairman now owns 631,170 shares in the company, valued at $21,365,104.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael P. Fitzgerald sold 13,038 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $40.04, for a total value of $522,041.52. Following the completion of the sale, the director now owns 12,738 shares of the company’s stock, valued at approximately $510,029.52. The disclosure for this sale can be found here. Insiders purchased 13,747 shares of company stock valued at $460,281 over the last ninety days. 7.50% of the stock is currently owned by corporate insiders.

United Bankshares Company Profile

United Bankshares, Inc (United) is a bank holding company. The Company operates through community banking segment. United’s Banking Subsidiaries offer a range of commercial and retail banking services and products. United, through its subsidiaries, engages in community banking and offers banking products and services permitted by law and regulation.

Institutional Ownership by Quarter for United Bankshares (NASDAQ:UBSI)

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